On 17 June 2022, the governor of the U.S. State of New Hampshire signed House Bill 1121-FN, which provides for a reduction in the business profits tax rate to 7.5% for taxable periods ending on or after 31 December 2023 (from tax year 2023). This follows a reduction in the rate from 7.7% to 7.6% for taxable periods ending on or after 31 December 2022 (tax year 2022).